In the technology driven banks & financial system in India, where transfer of money is a child’s play (NEFT & RTGS). Though charges involved in transferring money online is negligible, Demand Draft, popularly known as DD is the most trusted payment instrument by organizations all around. Let’s have a look at some known & unknown […]

When did you last receive a call from a telemarketer selling a unit linked insurance plan ? It must have been a while now. Ulips, which not long ago were the darling of insurance brokers, have fallen out of favour among intermediaries after the new norms for the products came into effect from September 1, 2010. It […]

Mutual fund investors are not exactly a pampered lot today. If you approach an agent for a mutual fund, he will either offer you an excuse or a Ulip/Insurance plan or both. This is the sad truth for the mutual fund industry after the scrapping of entry loads (the bread and butter for many advisers). […]

SEBI prevented an attempt to mis-sell an investment product to an investor in Delhi by a person claiming as agent of mutual funds. Complain SEBI had received a complaint from an investor that some unknown persons claiming to be ‘agents’ and ‘brokers’ of Mutual Funds and insurance companies have been contacting the complainant saying […]

Leave Travel Allowance is an allowance that is usually paid as part of Salary (Annual CTC to be specific) by employers to their employees. The original idea behind the LTA component was to help the employee meet his travel expenses. However, of late it has become yet another component of the CTC and no one cares […]

Retirement fund manager EPFO on Friday launched a facility to enable its over 5 crore subscribers to view updated accounts online on real time basis without waiting for their annual PF account slips. Besides this, the Employees Provident Fund Organisation (EPFO) has also announced it would put in place the facility for online PF account […]

Rounding off cheques to the nearest rupee Banks are required that all transactions, including payment of interest on deposits / charging of interest on advances, should be rounded off to the nearest rupee i.e. fractions of 50 paise and above shall be rounded off to the next higher rupee and fraction of less than 50 […]

Help your childrens know the Importance & Procedure of opening a Bank Account with the help of comic series “Raju & The Skyladder” issued by Reserve Bank of India. Click at the bottom right to download the story in pdf form. (6255)

Reserve Bank Of India presents an interactive comic series to spread awareness among people regarding various Financial Query. Have a look at “Money Kumar & Caring For Your Currency” to know how one should take proper care of currency notes & how & where to exchange your torn & soil Bank Notes. PDF download link […]

If you are among those who at time feel why not to print as much money as we need. RBI presents a comic series “Money Kumar & the Monetary policy” to explain things in much simple way. You can also download the pdf file by clicking at the bottom of the file. (3537)

This story talks about a boy who always dreams about Money growing on tree and eventually made his dream come true by his hard work & proper guidance. Click on the bottom right to maximize the screen. You can also download the pdf by clicking on the link at the bottom of the file. […]

Though there is a provision of closure of scheme with immediate effect on demise of the applicant, premature closure while a person is still alive has some limitations. Let’s have a look at some of the post office schemes premature closure norms: SCHEME Premature Closure NSC Cannot be closed before maturity Saving Bank Can be […]

A Postal Index Number or PIN or Pincode is the post office numbering system used by Indian post. The code is 6 digits long. The PIN was introduced on 15 August 1972. There are nine PIN zones in India, including eight regional zones and one functional zone (for the Indian Army). The first digit of the PIN code indicates the […]

Recurring Deposit (RD) Recurring means on a regular interval or after a periodic interval. Recurring deposit or commonly called RD means to deposit a fixed amount in bank or post office at a predetermined fixed rate of Interest. So if you have a regular flow of Income & want to invest this money on […]